| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 30th | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7423 Lankershim Blvd, N Hollywood, CA, 91605, US |
| Region / Metro | N Hollywood |
| Year of Construction | 1983 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7423 Lankershim Blvd, N Hollywood Multifamily
Stabilized renter demand and dense amenity access in North Hollywood support durable occupancy, according to WDSuite s CRE market data. A 1983 vintage positions the asset competitively versus the neighborhood s older housing stock while leaving room for targeted modernization.
The property sits in an Urban Core pocket of North Hollywood with strong day-to-day convenience. Amenity access is competitive among Los Angeles-Long Beach-Glendale neighborhoods (rank 455 of 1,441), supported by extensive food-and-beverage density (cafes and restaurants in the high-90s national percentiles) and broad pharmacy coverage (98th percentile). This concentration typically underpins leasing velocity and resident retention for workforce-oriented assets.
Neighborhood occupancy is 97.1%, with a five-year uptick, signaling durable rent-roll stability relative to many urban submarkets. The area shows a very high share of renter-occupied units (84.4%; 99th percentile nationally), indicating a deep tenant base for multifamily and steady absorption potential. Median asking rents in the neighborhood sit around the higher end of the market locally, and a rent-to-income ratio of 0.29 suggests watchpoints for affordability pressure that owners should manage through lease renewal strategies and unit mix positioning.
The building s 1983 construction is newer than the neighborhood average year of 1966. That positioning can provide a competitive edge versus older inventory, while still presenting value-add opportunities in common-area updates, energy systems, and in-unit finishes to capture upside without the full capital intensity of pre-1970s structures.
Demographic statistics are aggregated within a 3-mile radius. Over the past period, population was flat to slightly down, but forecasts indicate modest population growth (~3.9%) and a larger increase in households (~35.6%) through the next five years, pointing to renter pool expansion and support for occupancy stability. Forecast median household income growth and rising asking rents in the radius reinforce the case for measured rent growth, provided operators calibrate pricing to maintain retention.
Notable constraints include limited parks and childcare counted within the immediate neighborhood (both at the low end of national percentiles). For investors, that points to an opportunity to emphasize on-site open space, resident services, or partnerships with nearby providers to bolster appeal versus competing stock.
Safety conditions should be evaluated with a metro and national lens rather than block-level assumptions. Nationally, the neighborhood places in the top quintile for safety (81st percentile), which is comparatively stronger than many urban areas. Recent estimates also indicate sharp year-over-year declines in both property and violent offenses, an encouraging trend that can support tenant retention and leasing consistency. Conditions can vary by corridor and over time, so prudent operators monitor trends as part of underwriting and ongoing asset management.
Nearby media, telecommunications, and corporate offices provide a sizable employment base that supports renter demand and reduces commute friction for residents. Key employers within a roughly 2.5 11-mile radius include Charter Communications, Radio Disney, Disney, Live Nation Entertainment, and Avery Dennison.
- Charter Communications F telecommunications (2.5 miles)
- Radio Disney F media offices (4.5 miles)
- Disney F media & entertainment (4.9 miles) F HQ
- Live Nation Entertainment F entertainment offices (7.6 miles)
- Avery Dennison F manufacturing & materials (8.2 miles) F HQ
This 52-unit, 1983-vintage asset benefits from a renter-heavy neighborhood and sustained occupancy. Based on CRE market data from WDSuite, neighborhood occupancy is firmly in the high-90s and renter concentration is among the highest nationally, indicating a deep tenant base that supports leasing stability. The property s vintage is newer than the area s average housing stock, positioning it competitively versus older inventory while leaving room for focused value-add upgrades to capture rent premiums.
Within a 3-mile radius, forecasts show modest population growth and a larger increase in households over the next five years, which can expand the renter pool. Rising incomes and rent levels in the radius suggest potential for measured pricing power, though operators should manage affordability pressure (given a neighborhood rent-to-income ratio near 0.29) to sustain retention. Limited nearby parks and childcare signal an opportunity to differentiate with on-site amenities and resident services.
- Renter-heavy neighborhood and high occupancy support stable cash flows
- 1983 vintage offers value-add upside versus older local stock
- 3-mile household growth and income gains expand the renter pool
- Dense F&B and services in high national percentiles aid leasing
- Risks: affordability pressure and limited nearby parks/childcare require active asset strategy